According to Zacks, “Energy Focus, Inc. is a leading provider and innovator of energy efficient LED lighting products. As the creator of the only 100-percent flicker-free LED products on the market, Energy Focus products provide extensive energy savings, aesthetics, safety and health benefits over conventional and fluorescent lighting. As a longstanding partner with the US Government providing energy efficient LED lighting products to the U.S. Navy and the Military Sealift Command fleets, Energy Focus products go through rigorous testing in the most adverse conditions possible and still have a zero percent failure rate. In the commercial sphere, customers include national, state and local U.S. government agencies as well as Fortune 500 companies across education, healthcare, retail and manufacturing. Energy Focus is headquartered in Solon, Ohio, with additional sales offices in Washington, D.C., New York and Taiwan. “
Separately, HC Wainwright reiterated a “buy” rating and issued a $2.75 price target on shares of Energy Focus in a research note on Thursday, November 14th.
Energy Focus (NASDAQ:EFOI) last posted its quarterly earnings results on Wednesday, November 13th. The construction company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.14 million. Energy Focus had a negative return on equity of 115.79% and a negative net margin of 73.72%. Analysts predict that Energy Focus will post -0.57 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Energy Focus stock. Vanguard Group Inc. increased its position in Energy Focus Inc (NASDAQ:EFOI) by 31.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,247 shares of the construction company’s stock after purchasing an additional 34,742 shares during the period. Vanguard Group Inc. owned 1.17% of Energy Focus worth $59,000 at the end of the most recent reporting period. 12.75% of the stock is owned by hedge funds and other institutional investors.
About Energy Focus
Energy Focus, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and sells energy-efficient lighting systems in the United States and internationally. It offers various light-emitting diode (LED) lighting technologies, including military maritime products, such as Military Intellitube, globe lights, berth lights, and fixtures to serve the United States navy and allied foreign navies.
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